The Standard
Heathrow is on the brink of returning to the black after three years of huge losses during the pandemic as passengers flock back to the airport more quickly than expected.
Losses were down to just £19million in the first nine months of the year, compared with a £442million deficit in the same period last year.
The west London hub accumulated total losses of around £4.5billion between 2020 and 2022 as Covid-related travel bans and restrictions sent passenger volumes crashing by as much as 90%.
Chief financial officer Javier Echave said he expected the airport to be “pretty close” to break-even when the full year results for 2023 are unveiled in February. However, there will be no dividend for this year.
He added that the climb back to profitability has been hampered by the settlement on airport charges set by its regulator the Civil Aviation Authority.
